It's been 8 yr.s since DOFD, so i thought it should have dropped off by now. I've begun typing up a dispute letter to send to the CRA. I'm looking for advice on the wording to be used for this situation.
If it has been 8 years it surely should of come off of the credit report, all you have to do is write back informing the credit reporting agency that the listing is obsolete, and that you want this item removed. _________________ Credit Cards Credit Reporting Information Credit Repair Info
Generally speaking, debts drop off your credit report after the 7 year limit. However, this has nothing to do with the Statute of Limitations (SOL). When SOL expires, the creditor won't be able to win if he sues you. The negative items drop off only after 7 years.
Your personal details (name, email address and phone number) will be delivered to the company advertised on the Creditmagic after ve agreed to go for the counseling session by filling out the no-obligation form. However, it is your discretion to accept or reject their services.
Not all the creditors/debt collectors agree to trim down the outstanding balances, interests, and fees payable by the consumer.
Consumers working with the debt relief companies can still be sued by the creditors/collection agencies.
Debt relief services may have a diminishing effect on the creditworthiness of the consumer. The total outstanding balance may increase as the additional fees get accrued.
The overall amount saved by the consumer through the debt relief services is considered as taxable income by the IRS.